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Updated over 18 years ago on . Most recent reply

User Stats

10
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0
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Keith San
0
Votes |
10
Posts

LLC, company, or going personal.

Keith San
Posted

Goal: to own some profitable multi-families. If I buy one, I may also get it out there to flip and generate cash, as thats the main goal. Maybe even a realty/investment company of some sort.

Area: MA

Me: have a 500k house owe 300k on it, been here for 2 years.

Pocket cash: zero. (obviously can pull cash from house but thats not pocket)Job cash goes to life.

I will be buying an investment house sooner or later, what I'm wondering is since I want this as a sort of side job/investment, should I create an LLC? Or some form of legal corp are there benefits, taxes etc....

Is it better to just remortgage my home for a down payment and get the rental?

In theory I like the LLC stance as it allows me to create an investment property business, and I assume better tax loopholes as I rent and flip etc..

Thanks In Advance for educated opinions.

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